Some people looking to sell their homes are avoiding investors. Instead, they want to sell to people who will make their house a home.
Jay Narey, a local real estate agent with Keller Williams and 20 years of experience, has watched as investors buy up properties across the country, including in North Texas. The trend is altering the housing supply and driving up prices, Narey said. Over the last year, though, a growing number of his customers have preferred selling to individuals or couples instead of what are known as institutional buyers.
Low interest rates in 2020 and 2021 led investors to look for opportunities with higher returns. They also wanted assets that offered “a hedge against inflation," the NAR report explained. The real estate market offered both — higher-return opportunities and some protection against inflation. The result has been institutional investors buying up properties to flip or turn into rentals. This takes up housing stock and drives up prices whether you’re buying or renting.
“Are we working on a bigger policy regarding the scourge of investment buyers?” Schultz asked Dallas Housing Director David Noguera. “It is across the country, where individuals are no longer buying homes, but [real estate investment trusts] are.”
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